SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Research the viability of new venture ideas/opportunities 
SAQA US ID UNIT STANDARD TITLE
114596  Research the viability of new venture ideas/opportunities 
ORIGINATOR
SGB Generic Management 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Generic Management 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular-Fundamental  Level 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is aimed at learners who wish to identify and screen new ideas and/or opportunities with the intention of establishing and/or participating in a new venture.

The qualifying learner is capable of finding information about different industry sectors; explaining the purpose of potential new ventures; identifying characteristics of successful ventures and evaluating new venture opportunities.

The qualifying learner will be able to:
  • Identify and assess own business ideas/opportunities for a new venture.
  • Analyse the viability of a selected idea/opportunity against specific screening variables.
  • Research the potential of a particular idea/opportunity as a new venture.
  • Analyse a range of risks associated with a new venture.
  • Evaluate new venture ideas/opportunities based on research findings. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    Learners accessing this qualification will have demonstrated competence in Computer Literacy, Mathematical Literacy and Communications at NQF level 3 or equivalent. 

    UNIT STANDARD RANGE 
  • Risks include demand, competition, capability to produce/service at an economic and marketable price, level of capital require.
  • Failure factors include capital management, credit management, technical ability, market access and size, marketing/selling skills, management capability, business growth, personal life conflict.
  • Evaluation refers to the size and type of market segment, product range, sources of supply, physical facilities, essential services, financial resources, return on investment, staffing needs, technology requirements, legal/regulatory compliance, growth potential. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Identify and assess own business ideas/opportunities for a new venture. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    An own business is discussed in terms of its advantages and disadvantages for the owner, the labour market and the business sector. 

    ASSESSMENT CRITERION 2 
    Sources and methods of access to general and commercial business information are identified for proposed business venture. 

    ASSESSMENT CRITERION 3 
    Reasons for selecting or rejecting a particular new venture idea/opportunity are explained with examples. 

    ASSESSMENT CRITERION 4 
    Essential features of the new venture are identified in terms of market share, sales volume, asset value, and extent of independence from outside control. 

    SPECIFIC OUTCOME 2 
    Analyse the viability of a selected idea/opportunity against specific screening variables. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The aptitude, interests and values of the potential owner are screened for suitability to the new venture. 

    ASSESSMENT CRITERION 2 
    The market conditions are assessed to determine the viability of the new venture. 

    ASSESSMENT CRITERION 3 
    An assessment is made of the competition the new venture is up against. 

    ASSESSMENT CRITERION 4 
    The access to relevant technology and other resources needed for the new venture is analysed to aid a decision on the viability of the new venture. 

    SPECIFIC OUTCOME 3 
    Research the potential of a particular idea/opportunity as a new venture. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    A personal profile of an entrepreneur is matched to the type of work, product or service that has potential as a new venture to ensure compatibility. 

    ASSESSMENT CRITERION 2 
    Training needs to ensure success of the new venture are identified for all persons involved in the venture. 

    ASSESSMENT CRITERION 3 
    Market research is conducted including analysis of demand for the product/service and competitor analysis. 

    ASSESSMENT CRITERION 4 
    The most suitable location of the new venture is investigated to aid a decision on the location of the new venture. 

    ASSESSMENT CRITERION 5 
    Constraints on trade and applicable by-laws are investigated to ensure that there are no legal obstacles to the establishment of the new venture. 

    SPECIFIC OUTCOME 4 
    Analyse a range of risks associated with a new venture. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The concept of risk management is explained with examples. 

    ASSESSMENT CRITERION 2 
    The potential risks and factors that may threaten the new venture are identified and analysed with a view to eliminating and/or minimising them. 

    ASSESSMENT CRITERION 3 
    The risks associated with being an employer are explained. 

    ASSESSMENT CRITERION 4 
    The possible measures to reduce risk are explained with examples from a real or simulated new venture. 

    ASSESSMENT CRITERION 5 
    The insurance and security needs associated to risks in the new venture are investigated. 

    SPECIFIC OUTCOME 5 
    Evaluate new venture ideas/opportunities based on research findings. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Criteria are established for evaluating the success of a new venture. 

    ASSESSMENT CRITERION 2 
    A preliminary evaluation of the proposed new venture is produced in the form of a written report, using the identified criteria. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • This Unit Standard will be assessed by an assessor and moderated by a moderator, registered with the relevant accredited ETQA responsible for the quality assurance of this Unit Standard.
  • Any institution offering learning that will enable achievement of this Unit Standard must be accredited as a provider through the appropriate quality assuring ETQA, or Learning Programme approval with an ETQA that has a Memorandum of Understanding with the quality assuring ETQA.
  • Verification (external moderation) of assessment and moderation by the provider, will be conducted by the relevant quality assuring ETQA according to the moderation guidelines in the relevant Qualification and the agreed ETQA policy and procedures.
  • An individual wishing to be assessed through RPL against this Unit Standard, may apply to an assessment agency or provider institution accredited by the relevant quality assuring ETQA, or by an ETQA that has a formal agreement/accreditation with the relevant quality assuring ETQA. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Methods and techniques for assessing and analysing information associated with new venture opportunities.
  • How to evaluate new venture opportunities.
  • The types of new ventures and opportunities.
  • The Labour Market study
  • Researching the industry and the broad market
  • Consumer, competitors and supplier research
  • Interpreting research findings
  • Identifying your target market
  • Estimating the size of the market
  • Conducting own research
  • Risk management, insurance and security 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems and make decisions which arise during the process of assessing, analysing and evaluating new venture opportunities. 

    UNIT STANDARD CCFO ORGANISING 
    Organise oneself and one's activities by using structured methods in investigating and assessing new venture opportunities. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, analyse, organise and critically evaluate information which will assist in the investigation and assessment of new venture opportunities. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of related systems by explaining the potential impact of proposed new venture decisions. 

    UNIT STANDARD CCFO CONTRIBUTING 
    Develop entrepreneurial opportunities. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    N/A 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  66249   Further Education and Training Certificate: New Venture Creation  Level 4  NQF Level 04  Reregistered  2023-06-30  SERVICES 
    Core  23953   Further Education and Training Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Reregistered" 
    2009-05-13  Was SERVICES until Last Date for Achievement 
    Core  20884   National Certificate: New Venture Creation (SMME)  Level 4  NQF Level 04  Passed the End Date -
    Status was "Registered" 
    2005-04-10   
    Elective  58143   National Certificate: Music Industry Practice  Level 3  NQF Level 03  Reregistered  2023-06-30  CATHSSETA 
    Elective  65051   Further Education and Training Certificate: Arts and Culture Development Support  Level 4  NQF Level 04  Reregistered  2023-06-30  CATHSSETA 
    Elective  79626   Further Education and Training Certificate: Commercial Property and Facilities Management  Level 4  NQF Level 04  Reregistered  2023-06-30  SERVICES 
    Elective  58761   Further Education and Training Certificate: Early Childhood Development  Level 4  NQF Level 04  Reregistered  2023-06-30  ETDP SETA 
    Elective  65029   Further Education and Training Certificate: Music  Level 4  NQF Level 04  Reregistered  2023-06-30  CATHSSETA 
    Elective  59097   Further Education and Training Certificate: Real Estate  Level 4  NQF Level 04  Reregistered  2023-06-30  SERVICES 
    Elective  58394   National Certificate: Film and Television Production  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2023-06-30  MICTS 
    Elective  49087   National Diploma: Orientation and Mobility Practice for Blind and Partially Sighted Persons  Level 5  Level TBA: Pre-2009 was L5  Passed the End Date -
    Status was "Reregistered" 
    2009-07-29  Was ETDP SETA until Last Date for Achievement 
    Elective  73129   National Diploma: Public Relations Practice  Level 5  NQF Level 05  Reregistered  2023-06-30  SERVICES 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. 3 At Work Recruitment Agency 
    2. Accreditation & Training Services 
    3. ADOM TECHNOLOGIES 
    4. ADVS Security and Cleaning 
    5. Amogelang Marketing and Training 
    6. Asakhe Education Network 
    7. Aubrey Nyiko Business Enterprise cc 
    8. Avax Training & Development 
    9. Aviwe Business Development and 
    10. B T Group of Companies Pty Ltd 
    11. BDCE (Pty) Ltd 
    12. Big Fish 
    13. BLC Entertainment 
    14. Boitjhorisong Resource Centre 
    15. Bojelong Consultancy (Pty) Ltd 
    16. BOLAND COLLEGE 
    17. Brain Boosters Business Education (PTY) LTD 
    18. Brainwave Projects 1997 CC 
    19. Cedars Academy for Technical 
    20. Centre for Creative Education/Iziko La Bantu Be Afrika NPC 
    21. Changing Lives Community Development Training 
    22. College of Cape Town - Athlone Campus 
    23. Compass Academy of Learning 
    24. CORE Capacity Training Academy 
    25. CREATIVE ARTS COLLEGE 
    26. Custoda Trust 
    27. D M Management and Consulting 
    28. Dee s Training PTY LTD 
    29. DEVELO CC 
    30. Dintshang Trading 
    31. Directflo 
    32. Dru A Professional Further Education and Training College DAPFETC PT 
    33. E Lumina 
    34. Early Inspiration 
    35. Early Learning Resource Unit (ELRU) 
    36. EASTCAPE MIDLANDS COLLEGE BUSINESS UNIT (Uitenhage) (WA) 
    37. EBENEZER TRAINING HOUSE FOR EARLY LEARNING 
    38. Edu Experts SA 
    39. EDU-Bless College 
    40. Edu-Build Institute 
    41. Edu-Prof Training Centre 
    42. EDUTAK PRE-SCHOOL TRAINING AND DEVELOPMENT 
    43. Elgin Community College 
    44. Empirical Training Agency (PTY) Ltd 
    45. Enjo Consultants (Pty) Ltd 
    46. Environment and Language Education Trust 
    47. Epitome Villa (Pty)Ltd 
    48. Evers Xcellence Management Consulting 
    49. EYETHU NATIONAL COMPUTER COLLEGE PTY LTD 
    50. FALSE BAY TECHNICAL VOCATIONAL EDUCATION & TRAINING COLLEGE 
    51. FILM Mentorship & Training SA 
    52. FLAVIUS MAREKA FET COLLEGE 
    53. Footprint Media academy Pty ltd 
    54. Frayintermedia Cc 
    55. FURNITURE WORLD TRAINING CENTRE 
    56. Future Performance Training and Development 
    57. Future-Teacher (Pty) Ltd 
    58. Gauteng Baobab Early Learning Training Programme 
    59. Gold Class Group 
    60. Goldfields TVET College 
    61. Grassroots Adult Education and Training Trust 
    62. GWALA TRAINING SERVICES 
    63. Heirs Training and Development 
    64. HOPE ACADEMIC AND SKILL CENTRE 
    65. HUGENOTE COLLEGE 
    66. ICM t/a Institute for Career Management 
    67. Igugu Training and Investments 
    68. Ikamva Projects Pty Ltd 
    69. Ikusasa Lothisha t/a ECD Training Provider 
    70. Institute of Professional Studies and Services 
    71. Isamon Vocational College of Excellence Pty Ltd 
    72. Isibani Skills Academy 
    73. Isibani Soluntu Development Trust 
    74. IT Labs Consulting 
    75. Itireleng Bokamoso Trading Development Services and Associates 
    76. Jabulani Training & Development 
    77. Josmap Training Institute 
    78. Katehong Early Learning Resourse Unit (KELRU ) 
    79. Kefen Property Group 
    80. Keletsong Community Training & Resource Centre 
    81. Kgang-Kgolo Consulting 
    82. KHANIMAMBA TRAINING AND RESOURCE CENTRE 
    83. Khoali Group of Companies (Pty) Ltd 
    84. Khululeka Community Education Centre 
    85. Kids Academy 
    86. Kitso Bokamoso Training Solution 
    87. KITSO TRAINING AND DEVELOPMENT 
    88. Klein Karoo Resource Centre 
    89. KWAZULU NATAL EXPERIMENTAL COLLEGE 
    90. LEARNFORWARD TRAINING SOLUTIONS AND CONSULTING AGENCY 
    91. Legacy Leap Skills Developmemt Institute (Pty) Ltd 
    92. LEMOHA WORKPLACE SOLUTIONS AND TRADING PTY LTD 
    93. Leronsa Trading Enterprise 
    94. LESEDI EDUCARE ASSOCIATION 
    95. Lesias Educational Services 
    96. Level 5 Skills 
    97. Li Lichule Trading cc 
    98. LITTLE LEADERS GROUP (PTY) LTD 
    99. Loago Business Consulting 
    100. Lynne Hobbs cc 
    101. MASIKHULE EARLY CHILDHOOD DEVELOPMENT CENTRE 
    102. Mass Computer Training and Printers 
    103. MATHS CENTRE INCORPORATING SCIENCES 
    104. MBOWA COLLEGE PTY LTD 
    105. Media Village Training 
    106. MENCHO BUSINESS DEV PTY LTD 
    107. MENTORNET (PTY) LTD 
    108. Mnambithi FET College - Central Office 
    109. Mochochonono Training Solutions cc 
    110. Motheo Training Institute Trust 
    111. Movietech Film and Television College 
    112. MTL Training and Projects 
    113. Nasinasi Trading and Projects 
    114. NATAL EARLY LEARNING RESOURCE UNIT TRUST 
    115. NBnet Consultancy & Projects 
    116. Ndoma Mathodi Trading Enterprise 
    117. Netgrow Training Solutions 
    118. Networx for Career Development 
    119. New Beginnings Training and Development Organisation 
    120. Next Step Academy (Pty) Ltd 
    121. Nkqubela Community Developers 
    122. Noni Community Development 
    123. Northern Cape Rural TVET College 
    124. Northern Cape Urban College: Kimberley Campus 
    125. Northlink College 
    126. Northshore Trading 19CC t/a Makakhaunye Training and Development Agency 
    127. NTATAISE TRUST 
    128. Ntevho-Ketso Training and Recruitement Consultancy cc 
    129. Ntsangalala Business Enterprise 
    130. Ntshikose Training Services 
    131. Nyelati Trading Enterprise 
    132. OL Afrika Media 
    133. OPELONG BUSINESS INSTITUTE (PT 
    134. Orbit FET College - Central Office 
    135. Orchards Graduate School Pty Ltd 
    136. Peddie Development Centre 
    137. Peo Entle HIV Wellness Management and Youth Skills Development NPO 
    138. People Upliftments t/a POPUP Upliftment 
    139. Performance Development Institute Pty Ltd 
    140. Petra institute of Development (PTY) Ltd 
    141. PHALANE SAFETY CONSULTANT AND TRAINING PROVIDERS PTY LTD 
    142. PMA Holding (Pty) Ltd 
    143. PND Academy of Learning cc 
    144. Pracical Audio Solution 
    145. Pro-Ed Training 
    146. PROFESSIONAL CHILD CARE COLLEGE PTY LTD 
    147. Professional Development and Training Institute (Pty) Ltd 
    148. PRX SCHOOL TEST 
    149. Rampadise Education Training & Development Centre 
    150. Rasinkhu Investments 
    151. Read Educational Trust 
    152. Realeboga Development Services 
    153. Regen Institute of Leadership and Management Education 
    154. REGIONAL EDUCARE COUNCIL 
    155. Retshetse Training Project 
    156. Rhodes University 
    157. Richfield Graduate Institute of Technology Pty Ltd 
    158. Right 4 u College 
    159. SA College of Technology (PTY) 
    160. Safe and Sound Learning Association 
    161. SANTS College 
    162. Sbongukhanyo 
    163. SFM CONSULTANTS PTY LTD 
    164. Sisazi Consulting 
    165. SITHUTHUKILE TRUST 
    166. Sivile Housing Association RSA 
    167. Siyahluma Education Institute 
    168. South African Congress For Early Childhood Development 
    169. SOUTH AFRICAN CORPORATE TRAINI 
    170. South African Guide-Dogs Association for the Blind 
    171. South African School of Education for Paralegal Training Mpumalanga 
    172. South Cape Public FET College - George Campus 
    173. Southern African Youth Movement 
    174. Spotru Training Centre 
    175. SPS Consulting (Pty) Ltd 
    176. SSD Consultants 
    177. Star Choice Trading 407 (Pty) Ltd 
    178. Sunshine Community Outreach Ministry of Youth With A Mission 
    179. Sustainability Institute Trust 
    180. T A M AGRIDIV 
    181. T Mabuya & Associates (Pty) Ltd 
    182. Takatso Educare Training and Development Services 
    183. Teachers Learning Centre (Pty) Ltd 
    184. Tekollo Trading (Pty) Ltd 
    185. Tembe Service Providers 
    186. Tendazwau Trading 8 (PTY) LTD 
    187. Thabelanang t/a Thabelanang Trading Enterprise 
    188. The Camera Academy 
    189. The Iscariota Group (Pty) Ltd 
    190. THE MATTHEW GONIWE SCHOOL OF LEADERSHIP AND GOVERNANCE 
    191. The Nal'ibali Trust 
    192. The Port Elizabeth Early Learning Centre 
    193. Thembekile training consulting 
    194. Thubelihle Graduate Institute 
    195. THUKAKGALADI INTEGRATED DEVELOPMENT PROJECT 
    196. THUSANANG TRUST 
    197. Thuto Ya Setshaba Training Services (Pty) Ltd 
    198. Thuto-Botshabelo Training and Projects (Pty) Ltd 
    199. Tiakeni Training Centre 
    200. TPN Training and Recruitment cc 
    201. Trainers without Borders 
    202. Training and Resources in Early Education (TREE) 
    203. TRAINING AT WORK PTY LTD 
    204. TRAINING ATOMS 
    205. Training Portal Online 
    206. TSHEPANG EDUCARE TRUST 
    207. Tsoelopele Leadership Consulting (Pty) Ltd 
    208. Ukwakhile Training 
    209. Ulwazi Training & Development 
    210. Umgungundlovu FET College 
    211. UNIVERSAL COLLEGE OUTCOMES SA 
    212. Vala Nge Bhetshu Human Capital Development (Pty) Ltd 
    213. Vuselela TVET College 
    214. VUTHLARI MARKETING CONSULTING 
    215. Water berg FET College 
    216. Waterberg TVET College 
    217. WESTERN COLLEGE FOR FURTHER EDUCATION AND TRAINING 
    218. Winston Academy 
    219. World Wide Education Providers(Pty)Ltd 
    220. Woz'obona Early Childhood Community Service Group 
    221. Yellow Media Learning Institute (Pty) Ltd 
    222. Youth Media Movement 
    223. ZA WIT (PTY) LTD 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.